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CPO loan rates?

Discussion in 'Model S: Ordering, Production, Delivery' started by labfm, Aug 2, 2016.

  1. labfm

    labfm Member

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    Feb 17, 2016
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    Location:
    Philly Suburbs, PA
    For the CPO buyers out there, what's been the loan rates and terms you've been getting?

    Pretty sure I'm locking down a CPO tomorrow, but want to start investigating rates and such.
     
  2. DougH

    DougH Active Member

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    1.99% for 84 months.
     
  3. labfm

    labfm Member

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    Location:
    Philly Suburbs, PA
    whaaaat!!

    Who and when did you lock that down? I'm over 800 on all fico scores so I should qualify for best rates but haven't seen that advertised anywhere..
     
  4. DougH

    DougH Active Member

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    #4 DougH, Aug 2, 2016
    Last edited: Aug 2, 2016
    It's a local Credit Union in Portland. You have to live in Portland to get that rate. Check around your city, at every Credit Union on rates.

    Try Alliant Credit Union in Chicago. But with a 800 credit score you will be able to pick whichever bank or CU you want.
     
  5. labfm

    labfm Member

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    Location:
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    Ok thanks...will check around.

    Used alliant probably 5+ years ago when I used to live in chicago, but rates weren't as low as today/ 1.99% and 84 months is free money. Congrats on that deal.
     
  6. cheztir

    cheztir Member

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    Jul 27, 2016
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    Location:
    Memphis, TN
    Picking up my CPO next Wednesday and I got 2.24% for 60mo through Alliant (per the recommendation of many others here). I also explored using American Airlines Credit Union, would've been ~2.1% for 60, not an option for everyone as you'll need to work for a US-based airline. I'm glad I went with Alliant though, it has been incredibly smooth since they know how to work with Tesla.
     
  7. Docsaab

    Docsaab Member

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    Jul 15, 2016
    Messages:
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    Location:
    Virginia Beach
    The best rate I'm getting in Virginia is 2.84% for 72 Months. Is anyone aware of a lender providing a cheaper rate?
     
  8. elmoll

    elmoll Member

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    Sep 13, 2012
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    Location:
    Maryland
    You can use Lightstream. They are offering 1.74% for up to 60 months right now. Most of the time the loans are unsecured, meaning that you own the car outright immediately, the vehicle is not collateral.
     
  9. harleyds

    harleyds Member

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    Aug 16, 2016
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    Location:
    South Florida
    I got 2.49% on a CPO for 72 Months from Alliant. They originally offered me 1.49% for 72 months, but then realized it wasn't a new purchase. They said I got the best rate for a used purchase. I have close to an 800 Score.
     
  10. Docsaab

    Docsaab Member

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    @harleyds I am going to go with the 2.84% for 72 months that I am currently being offered. I have shopped around and not able to find anything lower. :( I feel it's still a good rate. Not the best.. but good enough! :)
     
  11. Boourns

    Boourns Member

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    Dallas
    +1 on going to your local credit union. I got 2.15% for 72 months.
     

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